Liquidity Benefits From Underpricing: Evidence from Initial Public Offerings Listed at Karachi Stock Exchange

Malik Muhammad Shehr Yar and Attiya Javid
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Malik Muhammad Shehr Yar: Pakistan Institute of Development Economics, Islamabad

No 2014:101, PIDE-Working Papers from Pakistan Institute of Development Economics

Abstract: This study empirically investigates the impact of foreign capital and governance on the economic growth by employing country level data from 1984 to 2010 for Asian developing countries. Governance; foreign aid and FDI positively affect the growth (per capita income) however, higher levels of debt are associated with slow growth rates. Results of the study are statistically highly significant and in accordance to prior expectations and economic theory. The robustness of the results is confirmed by performing the sensitivity analysis.

Keywords: External Debt; Foreign Aid; Governance; FDI; Economic Growth (search for similar items in EconPapers)
JEL-codes: E02 E20 F34 F35 F43 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2014
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Citations: View citations in EconPapers (2)

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